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1335 Drexel Ave 8 Unit Apartment Building $6,098,903 CAD ($762,363 CAD/Unit) 2.50% Cap Rate Miami Beach, FL 33139
Investment Highlights
- Excellent connectivity via MacArthur Causeway and I-395 to Downtown Miami and Miami International Airport.
- Positioned in a resilient tourism hub with strong year-round foot traffic and rental demand.
Executive Summary
Rare opportunity to acquire an 8-unit multifamily property in a prime South Beach location. Very large 1 bedrooms/ 1 bath who could be easily converted into 12 units. Just a short walk to Collins Avenue, Espanola Way and Lincoln Rd, only two blocks from the beach. The property is a unique investment opportunity with the potential for hotel use or short-term rentals and offering exceptional flexibility for investors. Strong upside potential with the possibility to operate as a hotel or obtain a short-term rental license, making this a compelling income-producing opportunity.
Current Income is as follows:
$2,000
$1,800
$1,650
$1,850
$1,850
$1,675
$1,650
$1,600
_____________
$14,075 X 12 =$168,900.00 yearly Income
Projected Income (with 12 units after renovation + Hotel zoning)
$140 / night X 30 = $4,200/ mo X 12 = $50,400 / month x 12 = $604,800 /year - 30% =$423,360/year with 70% occupancy per unit or rent long term
Bring your offer! Seller is ready to negotiate!
Current Income is as follows:
$2,000
$1,800
$1,650
$1,850
$1,850
$1,675
$1,650
$1,600
_____________
$14,075 X 12 =$168,900.00 yearly Income
Projected Income (with 12 units after renovation + Hotel zoning)
$140 / night X 30 = $4,200/ mo X 12 = $50,400 / month x 12 = $604,800 /year - 30% =$423,360/year with 70% occupancy per unit or rent long term
Bring your offer! Seller is ready to negotiate!
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,098,903 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $762,363 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 2.50% | Building Size | 4,824 SF |
| No. Units | 8 | Average Occupancy | 80% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1939/1974 |
| Zoning | CD-2, Miami Beach - 6400/COMMERCIAL - CENTRAL Allows for a multitude of commercial uses including apartment, hotel and additional uses. | ||
| Price | $6,098,903 CAD |
| Price Per Unit | $762,363 CAD |
| Sale Type | Investment |
| Cap Rate | 2.50% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 4,824 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built/Renovated | 1939/1974 |
| Zoning | CD-2, Miami Beach - 6400/COMMERCIAL - CENTRAL Allows for a multitude of commercial uses including apartment, hotel and additional uses. |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 500 - 600 |
1 1
Exceptionally walkable
100/100
Moderately drivable
70/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02-3234-011-0070 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,864,518 CAD |
Property Taxes
Parcel Number
02-3234-011-0070
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,864,518 CAD
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1335 Drexel Ave
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